SRES® Blog

2021 Retirement Plan Contribution Limits

2021 Retirement Plan Contribution Limits

Now is the time of year when you’re taking a hard look at your financial picture and developing a plan for the year. Before you start, check the all-important Internal Revenue Service (IRS) contribution limits for 2021. For details, visit the IRS site at https://bit.ly/3mUplK4 and https://bit.ly/2JpWZK5. For individuals contributing to a 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan, the contribution limits stay at $19,500. For those over the age of 50, the catch-up contribution stays at $6,500. The maximum contribution limits for individual retirement

Avoid reverse mortgage shopping scams

Avoid reverse mortgage shopping scams

The COVID-19 pandemic has affected many Americans’ financial and retirement plans. If you’re a homeowner over age 62, you may be thinking about a reverse mortgage. A reverse mortgage is a loan that allows older homeowners to use the equity in their homes. Unlike a traditional mortgage, there is no monthly mortgage payment, and the loan is usually repaid when the borrower sells or no longer lives in the home. As a result of the economic uncertainty caused by the COVID-19 pandemic, scammers may be targeting older homeowners through reverse mortgage schemes. These schemes can include: A trusted

Tool Scores Risk of Holiday Visits in Light of COVID-19

Tool Scores Risk of Holiday Visits in Light of COVID-19

With public health organizations all but begging the public to stay home this holiday season, people are grappling with how to celebrate Chanukah, Christmas, Kwanzaa, and the new year safely. How risky is it to visit grandma for a holiday visit during this COVID-19 pandemic? Test the danger by using “My COVID-19 Visit Risk” (https://bit.ly/33xoisJ), a new online tool developed by Toronto, Can.-based Ryerson University National Institute on Ageing. The tool relies on scientific evidence and input from experts in infectious diseases and epidemiology and walks you through a series of questions to

When Does Your House Stop Being Your Home if You Have to Apply for Medicaid?  

When Does Your House Stop Being Your Home if You Have to Apply for Medicaid?  

Medicaid is a state and federal program which pays medical costs for low-income adults with or without children. Medicaid also covers people aged 65 and older, blind or disabled, or pregnant and cannot pay their medical bills. However, most people do not realize that Medicaid also pays for nursing home care as well. For seniors who require long-term care and meet the financial eligibility criteria, Medicaid has a program which covers long-term care and pays for almost 100% of their nursing home costs. To qualify for Medicaid, you must have under a certain amount of non-exempt assets. In 2020

3 Ways to (Almost) Instantly Improve Your Mood

3 Ways to (Almost) Instantly Improve Your Mood

Right now, when social distancing makes a good hug hard to come by, try these other natural ways to boost your spirits! 1. Take a walk outside A simple walk can provide a pleasant change of scenery while also stretching your muscles and improving your circulation. Brisk walking can make you feel better by releasing endorphins (the feel-good hormone) and boosting energy. Walking in nature or other “green” spaces and basking in natural light has been proven to promote a calming, meditative mental state, improving mood. Plus, studies show that exercise can alleviate long-term depression. Active

The Surprising Health Benefits of Gardening

The Surprising Health Benefits of Gardening

Most people know that gardening is an excellent way to obtain tasty, organic fruits and vegetables for your table to boost your health. However, the benefits of gardening go far beyond the nutritional value of home-grown produce. Researchers have determined that older adults who garden enjoy fitness, flexibility, physical strength, and cognitive ability, regardless of what they grow. So, you don’t have to raise edibles to enjoy many of the remarkable benefits of gardening. If you prefer flowers, grow flowers! Good for the Body Gardening helps reduce sedentary lifestyles, enhances overall

New Research Pinpoints a Blood Factor That Can Reverse Brain Aging

New Research Pinpoints a Blood Factor That Can Reverse Brain Aging

Scientists know that physical activity can boost brain health, even if the source of exercise’s health benefits have been difficult to trace. Researchers have now identified an exercise-induced blood protein that can play a significant role in rejuvenating brains and combatting cognitive decline. The substance, glycosylphosphatidylinositol (phospholipase D1)—or GPLD1 for short—is a protein produced primarily in the liver and distributed via plasma in the blood. While it already exists in humans, exercise makes more of it. Scientists have confirmed the results, but aren’t sure how GPLD1 works

4 Ways to Build a Positive Attitude (and why you should)

4 Ways to Build a Positive Attitude (and why you should)

Life can be challenging, but looking for the good rather than focusing on the negative can make each day feel more rewarding. Plus, keeping a little altitude on your attitude provides physical benefits as well as psychological ones. If your mood needs a boost, try these strategies. 1. Exercise Researchers have found mounting evidence that physical activity provides extensive mental health benefits, including enhanced self-esteem and anxiety and depression reductions. The mood-elevating chemicals released in the brain while exercising continue to improve attitude and outlook long after

Simplify Video Chats with Senior-Friendly Tablets

Simplify Video Chats with Senior-Friendly Tablets

The coronavirus age has forced many families to rely on video chatting as a substitute for in-person visits. But if Mom or Dad aren’t savvy to today’s technology, how can you include them in video calls? Sadly, the pandemic has pushed many seniors into profound isolation, making it more essential than ever to support loved ones and find new ways to stay in touch. For older seniors lacking technical support, feature-rich Apple and Android tablets are often too confusing. If your loved one needs a simplified solution, here are three tablets to consider with senior-friendly video conferencing

Will More Seniors Choose Accessory Dwelling Units?

Will More Seniors Choose Accessory Dwelling Units?

Affordable housing is a challenge facing people of all ages but is acutely painful to seniors on limited incomes in high-cost markets. Even in cases where seniors can afford a home of their own, they may prefer aging in place in smaller quarters closer to family members. A space that includes a bedroom, bathroom, kitchenette, and living area may be more than enough to meet many seniors’ needs. And if the unit is located on a son or daughter’s property, family members can work together to support each other’s needs. For example, grandma can babysit the grandkids while her daughter grabs